All Forum Posts by: David Cochran

What would you expect to pay for a 4- Plex near a college campus that has 4 units, each 2 bed and 1 1/2 baths? Each unit rents for $750.00 a month and it doesn't require much maintenance as it is a newer building. Expenses run around 16% of the rental income and the units have never been vacant in the past. I want to put in an offer but I would hate to pay too much. Also, if you were selling a property like this what would you expect to sell it for? I want a good deal but I also want to understand what the seller might be expecting.

Thanks,

David

Thank you for the info! 

I want to buy a 4plex, live in one unit and rent out the others. The problem is my income is too low to qualify for a very big mortgage (maybe $165,000). I have $20,000 that I would like to use as a 5% downpayment on a $400,000 owner occupied 4plex. My question is, can the rental income of the property help me qualify for the home loan that I need?